KARACHI: The Pakistani rupee on Thursday registered marginal gain against the US dollar, appreciating 0.03% in the interbank market.
At close, the currency settled at 285.38, an increase of Rs0.09, as per the State Bank of Pakistan (SBP).
Interbank closing #ExchangeRate for todayhttps://t.co/gbMRk8GubR#SBPExchangeRate pic.twitter.com/z6lkqd35wq
— SBP (@StateBank_Pak) June 1, 2023
However, in the open market, the Pakistani rupee witnessed a significant appreciation against the US dollar, but dealers reported a shortage of the foreign currency.
On Wednesday, the rupee sustained marginal losses to settle at 285.47 or 0.04% down against the US dollar in the inter-bank.
Also read: Headline inflation at record high, hits a distressing 38% in May 2023
In a key development, The prime minister and the ministry of finance are fully committed to the International Monetary Fund (IMF) program, according to minister of state for finance Aisha Ghaus Pasha, who stated on Wednesday that “we are not thinking anything without the Fund’s program.”
The bailout’s restart, which has been on hold since November of last year, is essential for the cash-strapped economy.
